a 14.7% gain on a non-leveraged etf in less than 4 weeks isn't too bad but if you read the notes on the airline sector chart posted along with the original FAA chart and short entry, you'll see that a swift move down in the airline stocks is exactly what i had anticipated. congrats to those who caught it but i would recommend taking full profits at this point if still short. even though i expect more downside in the broad markets, which might continue to pull the airline stocks lower, i believe there are many more trades out there offering [...]
just realized that i didn't have the targets noted on the originally FAA daily chart that i posted with the set-up. here's the updated chart showing that we have already hit the first target so one could take full or partial profits here or lower your stops to protect profits if you prefer to hold out for one of the additional targets. FAA will now be marked as both a completed and an active trade. if it's this easy to make money on the short side in one of the most powerful up-trends in years, even decades, just wait until the [...]
here's an airline ETF for those who prefer the diversity of shorting a basket of stocks in the sector (less risk than just one stock). looks like a good R/R short around current levels if you are willing to give it a little wiggle-room. stops somewhat above the intersecting downtrend line/horizontal resistance.